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[Week 43 - 2021] Trades Recap and Trade Setups

Updated: Mar 28, 2023

Hey Traders,


Market enjoyed the euphoria throughout the week as risk on assets continue the rise. However, on Friday, Fed Chair Powell instead of maintaining his stance that inflation will be transitory, shifted more towards "inflation will last longer than expected". This risk off tone pushed back S&P500 indices off from the week's high along with the Yen crosses.


Upcoming Economic Release:

Weekly Economic Calendar for Week 43
Credit: ForexFactory.com Time: +8GMT

Dollar Index (DXY)

Dollar consolidates at minor support

Through the week, the dollar was unable to push back towards the high at 94.5 region. and fell back towards the support region at 93.6 while forming a consolidation period. The dollar seem to be at the peak but a break out confirmation at 93.6 region would confirm the bearish momentum and could potentially lead the dollar towards 93.04 region.



Spot Gold (XAU/USD)

Gold falls back to support level

Gold reverses and continued it's bullish momentum despite getting rejected at the descending trend line two weeks ago.



Trade Recap


Soybean Futures (Exclusive Trade)

Soybean Futures Analysis

Recap (Week 41 - 2 Weeks Ago) Take Profit - 1

Soybean Futures reached Take Profit (1) level

Recap (Week 42 - Last Week) Take Profit - 2

Soybean Futures reached Take Profit (2) level

Long at market position reached Take Profit 2 level where we announced to close / partial.



AUD/NZD (Analysis 42-3)

AUDNZD Analysis

Recap (Week 42 - Last Week) Stopped

AUDNZD stopped out

Long at market position stopped out.



Trade Analysis / Setups


AUD/JPY (Analysis 43-1)

AUDJPY Analysis

Long opportunity: Reversal confirmation at 84.25 region towards 85.45 as Take Profit - 1 level.


Short opportunity: Break and retest confirmation at 84.25 region towards 83.28 as Take Profit - 1 level.



NZD/CAD (Analysis 43-2)

NZDCAD Analysis

Long opportunity: Reversal confirmation at 0.878 region towards 0.8836 as Take Profit - 1 level.



Gold (Analysis 43-3)

XAUUSD Analysis

Long opportunity: Breakout confirmation at 1794.72 region towards 1812.27 as Take Profit - 1 level.


Short opportunity: Break and retest confirmation at 1780.3 region towards 1765.75 as Take Profit - 1 level.



Copper Futures (Analysis 43-4)

Copper Futures Analysis

Long opportunity: Breakout confirmation of descending trend line towards 4.749 or; break and retest confirmation at 4.5935 region towards 4.749 as Take Profit - 1 level.



 

Cheers to all our member who managed to pack some profits this trading week.


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Stay safe out there and safe trading!

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